Envestnet Asset Management Inc. Has $20.70 Million Position in Edison International $EIX

Envestnet Asset Management Inc. raised its position in Edison International (NYSE:EIX) by 13.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 374,440 shares of the utilities provider’s stock after purchasing an additional 43,097 shares during the period. Envestnet Asset Management Inc. owned approximately 0.10% of Edison International worth $20,699,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Activest Wealth Management increased its position in shares of Edison International by 677.8% during the third quarter. Activest Wealth Management now owns 560 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 488 shares in the last quarter. CVA Family Office LLC boosted its stake in shares of Edison International by 113.7% during the 3rd quarter. CVA Family Office LLC now owns 577 shares of the utilities provider’s stock worth $32,000 after buying an additional 307 shares during the last quarter. Laurel Wealth Advisors LLC grew its holdings in shares of Edison International by 5,064.3% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 709 shares in the last quarter. CoreFirst Bank & Trust bought a new position in shares of Edison International in the 2nd quarter valued at about $38,000. Finally, Quent Capital LLC acquired a new stake in shares of Edison International in the third quarter valued at about $40,000. 88.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on EIX shares. Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a research note on Monday, December 29th. Wall Street Zen cut shares of Edison International from a “buy” rating to a “hold” rating in a research note on Saturday. LADENBURG THALM/SH SH boosted their target price on shares of Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Wells Fargo & Company cut shares of Edison International from an “equal weight” rating to an “underweight” rating and increased their price target for the company from $56.00 to $59.00 in a research note on Tuesday, January 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Edison International from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Edison International currently has an average rating of “Hold” and a consensus target price of $64.10.

Edison International Stock Up 3.4%

Edison International stock opened at $71.43 on Friday. The company’s 50-day moving average price is $61.15 and its two-hundred day moving average price is $57.78. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 1.95. The stock has a market cap of $27.49 billion, a P/E ratio of 9.34, a P/E/G ratio of 1.05 and a beta of 0.82. Edison International has a twelve month low of $47.73 and a twelve month high of $71.61.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th were issued a dividend of $0.8775 per share. This is an increase from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Wednesday, January 7th. Edison International’s payout ratio is 45.88%.

Edison International Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.